Why are you aggressively investing in property?
For Anne Marie and Stuart Rayner, investing in property was a way to fund the retirement lifestyle they were looking for.
“We started passive investment in property quite some time ago and we were just going to ride the wave of capital growth and see how we go. Getting close to retirement that was taking too long, so we became active investors to build value in it,” said Mr Rayner.
Would you buy off the market?
Dominique Grubisa, CEO and founder of DG Institute, believes off-the-market opportunities and distressed properties are bargain opportunities in the current market.
“Bank repossessions, where there’s someone else that needs help, it’s a win-win. These people would have ended up with nothing, now they end up with something,” said the Rayners.
Can anyone buy off the market?
Jean Martin spent 20 years in IT, before going back to property. Ms Martin, a former architect and landscaper, used some “gardening leave” to spend her last $2,000 in property. The reward was a property resale of $77,000.
The Rayners, who are hands on with their portfolio and also have a background in IT, believe people who do not have a property background can succeed with this type of investment.
“Definitely anyone can do this. That’s the good thing about it; you can have no experience whatsoever and still make this work," they said.
Cameron Micallef is a journalist at Nest Egg, writing primarily about personal wealth and economic markets.
Prior to this, Cameron worked for Australian Associated Press. He graduated from the University of Wollongong with a double degree in communications and commerce.